EB Watch List Update Report

Dear Members: MARKET NOTE: A very nice session for the bulls today with all of the major indexes higher. This includes the S&P adding on a few points as it tries to move further away from 2100. The NASDAQ has also recovered nicely after yesterday's weak showing. If there's any cause for concern for the bulls here it's the fact that the Dow is technically overbought. It's been a great run from the February 11 low but almost non-stop higher. And the S&P is also stretched as the bulls now aim for the November 3 high of 2116. The NASDAQ has been lagging so it could still have some room to run here with the bulls aiming for 5000, a level not seen since the end of last year. The VIX is showing a fairly fearless trader; it hasn't been as low as it is now since August of last year. That can be seen as a strong positive - traders are opening up their wallets - or a strong negative - no fear can sometimes show too much complacency. But anyway you look at it the bulls currently are in charge. The question is, will traders ignore some of the warning signs that a pullback could come soon? With earnings galore coming out each day now, that might be the catalyst for a big move one way or another. KEY EARNINGS REPORTS Companies reporting earnings today (April 20) include: ABT, AXP, BKU, CHKP, CTXS, KO, CLGX, CCK, DISH, EMC, FFIV, HBAN, KMI, KNX, LRCX, LVS, MAT, NEM, NLSN, QCOM, RJF, SLM, STJ, STLD, SYK, TXT, TSCO, TUP, USB, WERN and YUM Companies reporting earnings tomorrow (April 21) include: AMD, ALK, GOOGL, BK, BBT, BIIB, BX, DHR, ETFC, FICO, FCS, FITB, GM, IMAX, JCI, KEY, LAZ, MAN, MSFT, MORN, NSC, NUE, NVR, PII, PHM, DGX, SLB, SHW, SKX, LUV, SWK, SBUX, SWFT, TCB, TRV, UA, UNP, UIS, VZ and V ADDITIONS TO WATCH LISTS: We've had some very nice winners on the long side lately. I hesitate to add anymore at this exact moment as the Dow and S&P continue to be stretched. I think it makes sense to hold off for just a bit and see what develops. Will still consider a short or two if it seems appropriate and will keep you posted. BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: There are no shorts on the Watch List at this time LONGS: Large Cap Watch List AMAT - AMAT closed below our recently raised stop and turned out to be to be a nice winner. It has now been removed from our Watch List. Mid Cap Watch List There are no Mid Cap stocks on the Watch List at this time. Small Cap Watch List AVD - This stock is fairly flat today. Our price target remains at $16.80. RDC - This stock hit our revised target today of $17.15 so has been removed from our Watch List. GREAT TRADE! DELETIONS FROM OUR WATCH LISTS: Both AMAT and RDC have now been removed from our Watch List. There are no other deletions from the Watch List today unless a Watch List stock closes below or above the stop loss provided. At your service, John Hopkins, EarningsBeats